Where can I buy gold bullion?

There are several gold buying related pages here on mahalo including How to Buy Gold Online, How to buy Gold Coins, How to Buy Gold Bullion, and How to Buy Gold Jewelry. If you want to hide it under your bed, then you might want to consider the gold bullion, sometimes called gold coins. They are the most liquid of the gold investments that you can personally handle.

Gold bars are large pieces of gold that will most likely be delivered by armored truck. I don't think they hide very well. Gold jewelry is not usually bought for investments.

The jewelry is mixed with other metals and would have to be separated. Also, you will most likely never get back what you paid for a piece of gold jewelry (unless it's some kind of heirloom piece). You may not want to go with the cheapest way to buy gold because that might mean a disruptable dealer.

All gold will be sold with premiums over the cost of the gold. The more gold you buy at one time, the lower the premiums would be. Before you can decide what to buy, you should decide how much you want to spend.

That will give you a good idea of what category of pieces you will be in. A troy ounce is selling for over $1000 these days I believe. If you don't want the hassle of storing gold then look into ETF's.

That is buying shares in gold bullion without the hassle of the bullion itself. It also might be more economical since they sell for about 1/10th of the market value of an ounce Good luck with your gold purchase.

It depends on your goal. If you want to pay the lowest premium over spot prices than bullion/bars are the best deal. Gold coins are a higher premium over spot price, and US minted coins may carry a government confiscation risk (it happened in 1934!).

Jewelery is usually the highest premium, and trading it requires someone with an assay device but you can wear $100k worth of gold right across the border with few questions asked. Fees range from 0.75-1.0% for bullion.999.9 fine coins depending on the weight are 4-8% depending on the mint and current demand. Gold jewelery is anyone's guess because of the artistic value.

The cheapest way to buy gold is to buy gold bullion. You can get 999.9 fine from 1 gram up to whatever. The more mass per bar you buy the less the premium over spot you pay.

A one gram bar/wafer is about 21% over spot, a one troy ounce bar is about 2% over spot. The price of a 400 troy ounce bar is negotiable...

You can find gold coins and possibly even small gold bars at a local coin shop. It is not necessary to pay fees to anyone to buy gold like you would when buying stocks. Buying gold is as simple as finding someone with a gold coin and paying cash for it.

I would not buy gold jewelry, however, as you'll have a much harder time selling it. Gold coins and bars are easy to buy and sell.

onlygold.com/NeverBoughtGold/Bullion_vs_... gives a good primer on what gold bullion is and what the preferred form might be. The article suggests that large bars are cost efficient when buying, but may incur various costs when selling: "You may encounter assay, refining, or just handling fees in trying to liquidate that size gold bullion bar. It's much more difficult and time-consuming to liquidate gold bullion in a single chunk that is worth over $100,000 than it is to sell the same amount of gold bullion in more convenient and tradable sizes."

The upshot is that it is likely cheapest to buy large gold bars, rather than e.g. Gold coins or smaller bars. However, the higher costs and greater difficulty in finding a buyer for large bars make the overall cost (buy, hold, then sell) more costly for large bars. Thus, for smaller amounts, gold coins such as American Gold Eagles, Canadian Gold Maple Leafs, South African Krugerrands, etc. May be more practical.

You can read some more details about Gold American Eagles at monex.com/prods/gold_eagle.html?gclid=CJ... . You can buy gold bars or coins e.g. From Monex (toll-free 1-800-444-8317; monex.com/prods/gold.html ) and you can see their live pricing at monex.com/liveprices which at this time show bullion mid-price (between bid and ask) of $1093/ounce, while the ask price for Gold American Eagles is $1154.10/ounce. Getting a quote on the spread between ask and bid is a bit difficult, as is explained in the article at http://www.taxfreegold.co.uk/sellingwhichcoinsorbars.html .

However, you can get quotes on buying and selling the same item to get a feeling for the spread. For now, as an estimate, you can use the above two quotes to estimate that for small amounts, there may be as high a spread as $122/ounce, or 11.2%. For the official list of vendors authorized by the US mint to sell Gold American Eagles is available at http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=lookup .

For some further reading see http://www.goldprice.org/buying-gold/2006/01/how-to-buy-gold-bullion.html .

Gold bars and gold coins make good investments. The price will continue to go up in the next few years. Gold jewelry isn't really an investment unless you are planning to melt it down and sell it later as a nugget.

The spot price on gold fluctuates like a stock. It can go up and down throughout the day. The cheapest way to purchase gold is through an online site like homeofgold.com/ Good Luck!

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